Vodafone traded higher after decent quarter supported forecasts

Vodafone (LSE:VOD) shares traded higher on Thursday, closing up 2.2% at 72p, after the telecoms blue-chip reported a 2.8% rise in first-quarter revenue, to €9.0 billion.

Service revenue experienced organic growth of 5.4%, amounting to €7.5 billion. This growth was driven by strong performances in Africa and Turkey, though the German market saw a decline due to regulatory changes affecting TV service sales.

Elsewhere, Vodafone took a €6.1 billion impairment charge in Europe, primarily in Spain.

The company retained its full-year guidance, which anticipates an underlying cash profit of €11 billion and free cash flow of €2.4 billion.

Vodafone's chief executive, Margherita Della Valle, highlighted ongoing improvements and the company's focus on customer experience, business growth, and operational execution in Germany.